FIRE DIVISION

POSITION #1

Whereas the Fund received only one eligible nomination form prior to the specified deadline for Position #1 and in accordance with Section 2(C), of the Fund's Voting Procedures, Mr. Jerry Villanueva shall be deemed duly elected as an unopposed member of the Board of Trustees.

POSITION #2

The results of the Trustee Election are as follows (pending Board Certification):

Paul Thompson 274 Votes

Robert Franco 56 Votes

Jonathon Lawson 8 Votes

Jonathan Killings 89 Votes

Jake Canavan 50 Votes

Whereas Mr. Thompson received the highest Number of validated votes for Position #2, Mr. Thompson will be deemed a duly elected member of the Board of Trustees.

POLICE DIVISION

Whereas the Fund received only one eligible nomination form prior to the specified deadline and in accordance with Section 2(C), of the Fund's Voting Procedures, Mr. Shelton shall be deemed duly elected as an unopposed member of the Board of Trustees.

The Moss Adams LLP accounting firm, of Albuquerque, N.M., conducted the audit and produced a 38-page report. The audit report states, “The investment decisions made by the Board of Trustees are made mindfully and with careful thought especially in the unpredictable global and domestic financial markets today. The portfolio continues to be structured to provide the best returns possible over the long‐term within the risk parameters adopted by the Board.”

Tyler Grossman, the EPFPPF executive director, said, “Our Fund’s board of trustees and staff are proud of the audit results and the performance of the Fund. We strive everyday to ensure our fund will stay strong for our members in good and bad economic times. Operationally, we also are working hard to further strengthen our member services and communications.”

With assets of more than $1.2 billion, the Fund continuously negotiates new investment and administrative contracts, saving millions of dollars in fees; revised its plan document with the Forward DROP to make the Fund stronger; purchased a new pension administration system at a substantial discount; initiated and redeveloped a robust policies and procedures program to increase the manageable level of risk; completed a financial audit, a five-year experience study, and a two-year actuarial valuation, all which reflected favorably on the Fund; strengthened working relationships with local and state government officials; and acquired, renovated and opened an office building which saves the costs of escalating office lease expenses in El Paso.

This year, the Texas Association of Public Employee Retirement Systems (TEXPERS) ranked the Fund as No. 1 for 15- and 20-year performance. In 2014, TEXPERS ranked the Fund among Texas’ top-three pensions plans in a closely watched measure of average yearly returns over long-term investing horizons. The Texas Pension Review Board also recognized the Fund’s extremely low administration costs and its good standing in all aspects of pension-governing state statute 6243b.

About the El Paso Firemen & Policemen’s Pension Fund

Created in 1920 with $6,000, the El Paso Firemen & Policemen’s Pension Fund provides retirement, survivor, and disability benefits to the uniformed public safety employees of the City of El Paso. The Fund has two divisions, a Policemen’s Fund and a Firemen’s Fund. An 11-member Board of Trustees and administrative staff manage both divisions. The board includes three elected firefighter trustees, three elected police trustees, three mayor-appointed trustees, and two city manager-appointed trustees. Trustees volunteer and are not compensated for their time in service to the Fund.

Mr. Grossman, the current president of the $1.2 billion Fund’s board of trustees, was among three finalists presented to the board after an independent national search managed by Denver, Co.-based EFL Associates. He will replace outgoing executive director Robert J. Stanton, who announced he would leave the Fund when his employment contract expires next month.

Search committee chair Jerry J. Villanueva, a Fund trustee, said, “The board’s unanimous vote reflects our confidence that Tyler Grossman will build on the Fund’s recent momentum and help ensure the long-term financial security of El Paso public safety personnel. He has extraordinary organizational skills and management experience, and a proven ability to work with our board, members, and elected officials in El Paso and at the state legislature.”

A lieutenant in the El Paso Police Department, Mr. Grossman has served as a Fund trustee since 2000, except for two years of service in Iraq as a military contractor. He holds a bachelor of science degree in criminal justice administration from Park University and a master’s degree in business administration from the University of Texas at El Paso. He currently serves as second vice president of the Texas Association of Public Employee Retirement Systems (TEXPERS).

Fund trustee Carmen Arrieta-Candelaria said, “Our board was presented with strong candidates, but Tyler Grossman was best qualified to lead the Fund staff going forward. His service to and support of the Fund have been excellent. He has an effective management style and a consistent record of professional successes – with the El Paso Police Department, in support of the military in Iraq, and with the Fund.”

Mr. Grossman, who will retire from the police department as soon as possible, said, “I look forward to this new opportunity with the Fund and am grateful for the support of the board of trustees, our firefighter and police officer members, and my family. Like our other board trustees, I also want to recognize Bob’s service to the Fund and a long list of accomplishments made for our members.”

When Mr. Stanton joined the Fund in 2001, assets totalled about $350 million and they now stand at more than $1.2 billion. In recent years, the Fund negotiated new contracts for custodial and benefit payments, saving millions in fees; developed its first plan document and pension administration system; initiated and renegotiated a security lending program to increase portfolio returns or offset portfolio expenses with a manageable level of risk; established bylaws, communications, indemnification, and disclosure policies; established a principles of fiduciary conduct and governance policy; and acquired and opened an office building which saves the costs of escalating office lease expenses in El Paso.

In 2014, TEXPERS ranked the Fund among Texas’ top-three pensions plans in a closely watched measure of average yearly returns over long-term investing horizons. The Texas Pension Review Board also recognized the Fund’s extremely low administration costs and its good standing in all aspects of pension-governing state statute 6243b.

EFL Associates Vice President Daniel J. Cummings and Research Associate Christine Stearns of EFL Associates consulted on the search. Mr. Grossman recused himself from search activities after announcing his interest in the position.

About the El Paso Firemen & Policemen’s Pension Fund

Created in 1920, the El Paso Firemen & Policemen’s Pension Fund provides retirement, survivor, and disability benefits to the uniformed public safety employees of the City of El Paso. The Fund has two divisions, a Policemen’s Fund and a Firemen’s Fund. An 11-member Board of Trustees and administrative staff manage both divisions. The board includes three elected firefighter trustees, three elected police trustees, three mayor-appointed trustees, and two city manager-appointed trustees. Trustees volunteer and are not compensated for their time in service to the Fund.

EL PASO, Texas, July 24, 2015 -- The El Paso Firemen and Policemen’s Pension Fund has initiated a national search for a new executive director, the Fund’s board of trustees announced today.

Denver, Co.-based EFL Associates was retained to manage the search to replace Robert J. Stanton, who has served as executive director of the billion-dollar Fund since 2001. Vice President Daniel J. Cummings and Research Associate Christine Stearns of EFL Associates are consulting on the search, the Fund said.

Fund board member Jerry J. Villanueva, who chairs the search committee, said, “The Fund and the firefighters and police officers we serve are grateful for Bob Stanton’s service. We seek candidates who can help build on the Fund’s recent momentum and help ensure the long-term financial security of El Paso public safety personnel.”

The Fund seeks executive director candidates with graduate-level degrees from accredited four-year colleges or universities, with preferred emphasis in finance, business, economics, public administration or similar fields. Candidates also should have strong organizational skills and management experience, ability to work with boards and elected officials, and knowledge of pension fund laws and administrative practices, information technology, accounting, institutional investment and actuarial concepts and principles.

The Fund will provide a competitive base salary dependent on the experience and qualifications of the successful candidate. A comprehensive benefits package includes health, dental, life and short and long-term disability insurance coverage, a paid-time-off and holiday schedule, and participation in a defined benefit plan specifically for Fund employees.

For more information on the executive director position specifications or to submit a resume, please email cstearns@eflassociates.com.

In April 2014, the Fund reported that Stanton would leave when his contract expires in October 2015. When he joined the fund in 2001, assets totalled about $350 million and they now stand at more than $1.3 billion. In recent years, the fund negotiated new contracts for custodial and benefit payments, saving millions in fees; developed its first plan document and pension administration system; initiated and renegotiated a security lending program to increase portfolio returns or offset portfolio expenses with a manageable level of risk; established bylaws, communications, indemnification, and disclosure policies; established a principles of fiduciary conduct and governance policy; and acquired an office building which will save the costs of escalating office lease expenses in El Paso.

In 2014, the Texas Association of Public Employee Retirement Systems (TEXPERS) ranked the Fund among Texas’ top-three pensions plans in a closely watched measure of average yearly returns over long-term investing horizons. The Texas Pension Review Board also recognized the Fund’s extremely low administration costs and its good standing in all aspects of pension-governing state statute 6243b.

About the El Paso Firemen & Policemen’s Pension Fund

Created in 1920, the El Paso Firemen & Policemen’s Pension Fund provides retirement, survivor, and disability benefits to the uniformed public safety employees of the City of El Paso. The Fund has two divisions, a Policemen’s Fund and a Firemen’s Fund. An 11-member Board of Trustees and administrative staff manage both divisions. The board includes three elected firefighter trustees, three elected police trustees, three mayor-appointed trustees, and two city manager-appointed trustees. Trustees volunteer and are not compensated for their time in service to the Fund.